Babystar Inc. receives $6MM line of credit from First National Bank of Boston.WESTWOOD Westwood. 1 Residential town (1990 pop. 12,557), Norfolk co., E Mass., in the greater Boston area; settled 1640, inc. 1897. It has several early 18th-century buildings. 2 Residential borough (1990 pop. 10,446), Bergen co., NE N.J. , Mass.--(BUSINESS WIRE)--June 27, 1995--Babystar Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : DATA, DATAU) today announced that Data Trend Inc., its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , has closed on a $6MM credit line with the First National Bank of Boston. Under the terms of the agreement with the bank, the company will be able to borrow up to 75% against its eligible accounts receivables accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying and up to 40% on its inventory levels up to a total of $5MM. In addition, the company has arranged for a $1MM over advance facility to be used for special deals. Mark Hanson This article is about the Lutheran bishop. For the Islamic scholar formerly named Mark Hanson see Hamza Yusuf Mark S. Hanson (1946- ) is currently the Presiding Bishop of the Evangelical Lutheran Church in America, having been elected in 2001 and reelected in 2007. , chief executive officer of the company, stated, "We are elated e·lat·ed adj. Exultantly proud and joyful. e·lat  ed·ly adv.e·lat to have closed this credit line with the bank and are hopeful that the new banking relationship will allow us to expand our business. We have been operating with a much smaller line and have at times been hampered in our abilities to take advantage of unique buying opportunities which come our way from time to time. We are in a business which requires us to be ready to make instant decisions and large purchases when these opportunities present themselves and bank lines are often quite important. This new banking relationship should correct this problem and enable the company to continue it's accelerated growth." Data Trend Inc. is engaged in the business of purchasing and selling micro computers, peripheral components and accessories, selling new, used and refurbished products from well known manufacturers. CONTACT: Babystar Inc. Yitz Grossman 212/964-4600 or Helen Vess 617/326-4100 |
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